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Hi, i am 26 years old this year. I would like to ask. Is there any possibilities for me to buy a HDB resale flat with $25K in my CPF ordinary account? I am buying with my mother. We can't buy a new HDB flat as she already sold her 2nd new flat.
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1 Answer

Vincent Ong
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Hi Diana,

You can form a family nucleus with your mother to purchase a resale flat provided you and the occupant are SC/ SPR.

*If both SPR have to wait 3 years from obtaining SPR status to buy a resales flat.

You have to apply for bank loan if your mother has obtained HDB loan two times. The down payment for bank loan will be 20% (5% cash/ 15% cpf or cash).
Most likely you will need to top up the shortfall in cash.

Feel free to contact me @9745 9959 if you want to find out more on financial planning.

Cheers Read More
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